LONDON (ICIS)--The polyethylene terephthalate (PET) market in Europe has gathered momentum, propelled by concerns regarding sky-rocketing freight costs, a container shortage, Brexit stock-piling and problems securing feedstocks. “The China price is up almost every day…freight is getting even more crazy. We were talking $5,000 [for a 20 ft container], but now it’s $7,000 or $8,000. It’s absolutely ridiculous,” a trader said.
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